Book profit on NIFTY put

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This week there could be fire crackers on both side of the 5200 level. Last week I suggested NIFTY put and I hope many were able to take advantage of that call. I recommended small position because it was not really predictable.

Last time when market was in downtrend. It bottomed on Budget and Election results. Downtrend of NIFTY as clear as it can be, now the buying is only happening because of panic buy or panic sell and those moves are wild. It would make sense to buy a call option and put option to play move on both sides. But that is a tricky move. For rest of us, we should let the market play its game this week and come back in discuss next move next week.

Thanks
Anil
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